Automakers report sales increases despite storm
Thursday, November 01, 2012 01:10 pm
DETROIT – Major automakers are reporting sales increases for October despite losing three days of business to the punishing rain and wind from superstorm Sandy.Toyota said its sales rose almost 16 percent for the month, while Volkswagen reported another strong month with sales up 22 percent. Chrysler sales rose 10 percent, General Motors was up 5 percent and Ford rose only slightly.
The results show that Americans continue to buy new cars and trucks at a strong pace. Chrysler predicted an annual sales rate of 14.7 million for the U.S. industry in October, making it one of the year’s strongest months. Auto sales ran at an annual rate of 14.3 million through September.
Ford said Sandy probably cost the industry 20,000 to 25,000 sales for the month as buyers in the Northeast hunkered down for the storm at the end of the month.